Quebec consumers most likely to spend less this holiday season: RBC

Quebec consumers most likely to spend less this holiday season: RBC 
On average, they plan to spend $1,044 on gifts and other holiday items 
TORONTO, Nov. 15, 2012 /CNW/ - Quebec residents are likely to be the most 
prudent holiday shoppers in Canada, with intentions to spend the least amount 
on gifts and other holiday items at $1,044, well below the national average of 
$ 1,182, according to the latest RBC Canadian Consumer Outlook. 
On average, Quebecers plan to spend$475 on gifts this holiday season, compared 
to the national average of $629. As for other holiday items - clothing, 
travel, decorations, beauty services, food and drink, and entertainment - 
Quebec consumers are also significantly curbing their spending to $360, down 
from $572 last year and significantly less than the Canadian average of $612. 
"Taking the time to create a budget enables you to know what you can afford 
before you start your holiday shopping," said Chris McEachern, financial 
planning role strategist, RBC Financial Planning. "Having a plan and knowing 
where the money is coming from to pay for your purchases provides peace of 
mind and is a great way to start off a new year." 
Most (62 per cent) Quebec consumers intend to pay for the holiday season with 
savings and 24 per cent plan to use credit cards. Less than one-in-five (19 
per cent) say they have not thought about how they will finance the holidays. 
RBC offers the following tips and secure payment options for holiday spending 
to help ensure that you stick to your holiday budget while enjoying the spirit 
of the season: 

    --  Take control by preparing a budget - A budget will help you
        live within your means, during the holidays and throughout the
        rest of the year, and avoid unnecessary debt. A
        Financial Planner
        can help you put a plan with a budget in place or online
        budgeting and savings resources available on websites such as
        can be of great assistance to help keep holiday spending plans
        under control.
        is another online customizable financial management tool that
        will help keep tabs on your monthly spending so you know
        exactly where your money is going and how to budget properly.
    --  Use cash and credit wisely - If you plan on using savings for
        your holiday costs, make your credit card work for you by using
        it for purchases and then immediately pay off the balance. Many
        rely on their credit cards for larger purchases but may not use
        it for everyday shopping instead of using cash. Holiday
        spending on groceries, gas, restaurants and clothing can add up
        quickly, but using your card can help you keep track of your
        expenses and also earn rewards more quickly while taking
        advantage of a temporary interest-free loan on purchases.
    --  Shop online with confidence - E-commerce sites are a great way
        to avoid crowds at the mall. Use the
        RBC Virtual Visa Debit
        for shopping online with funds coming directly from your bank
        account. This is a simple and secure way to make purchases that
        will be processed over Visa's network, providing the protection
        of Visa's multiple layers of security including: Visa's Zero
        Liability Policy, Verified by Visa, E-Promise, AVS (Address
        Verification Service) and CVV2 (the three-digit code).
    --  Have someone that's "hard to buy for"? - More secure than cash,
        RBC Visa Gift Cards
        can be used anywhere around the world where Visa cards are
        accepted, including online, giving friends and family more
        options than traditional store gift cards. RBC Visa Gift Cards
        are available at all RBC branches.
    --  Get peace of mind with purchase protection and extended
        warranty - Take advantage of these insurance features on gifts
        (e.g. electronics) that
        RBC credit cards
        offer. Need help finding the right card? Visit the
        RBC Advice Centre.

About RBC savings and other financial advice and interactive tools

Canadians can access RBC Financial Planning and for 
free planning, budgeting and savings advice and resources, or to find an 
Investment and Retirement Planner near you. In addition, all personal RBC 
online banking clients can use myFinanceTracker, a no-cost interactive 
financial management tool, to create and track their budget, savings goals and 
spending habits. Whether Canadians want to get more from their day-to-day 
banking, protect what's important, save and invest, borrow with confidence or 
take care of their businesses, the RBC Advice Centre can help answer their 
questions. Interactive tools and calculators provide customized information 
covering many facets of personal finance. In addition, online advice videos 
are updated regularly to reflect current trends and to answer the questions 
that are top of mind with Canadians. With the guidance of RBC advisors who are 
available to chat live, Canadians have access to free, no-obligation 
professional advice about RBC products and services and personalized 
one-on-one service at

About The RBC Canadian Consumer Outlook Index

The survey is conducted online via Ipsos Reid's national I-Say Consumer Panel 
to 3,375 Canadians, including 609 Quebecers. Weightingwas thenemployed to 
balance demographics and ensure that the sample's composition reflects that of 
the adult population according to Census data and to provide results intended 
to approximate the sample universe. Data collection was October 1 to 10, 
2012. The precision of Ipsos Reid polls are calculated using a credibility 
interval. In this case, the poll is accurate to within +/- 1.9 percentage 
points of the entire Canadian population.

Media contacts: Kate Yurincich, RBC, (416) 974-1031 Suzanne Willers, RBC, 
(416) 974-2727


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CO: RBC Royal Bank
ST: Quebec

-0- Nov/15/2012 10:00 GMT

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